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The U.S. dollar is trading higher against all of the major currencies this morning except for the Japanese Yen. Import prices was the only piece of U.S. data released today and the 0.5% decline was right in line with expectations and therefore barely elicited a reaction in the dollar. After hitting a high of 102.15 on Monday, the rally in USD/JPY has stalled. Given that the break above 100 was caused by the combination of higher U.S. yields, rising Japanese and U.S. Read More | View Original Article
Greenback rises on economic optimism
Australian Dollar: Despite enjoying a brief stint back above parity yesterday the Australian dollar has fallen for a seventh consecutive day overnight, close to the longest losing streak witnessed since August 2011. Tumbling to its lowest point seen in over 11 months, speculation has continued to mount that the RBA will cut borrowing costs again in an attempt to support the economy. Read More | View Original Article
Forex Daily Outlook May 15 2013
US Producer Price Index, BOE Inflation Report and UK employment data are the main events today. Here is an outlook on the market-movers awaiting us. In the US, Producer Price Index, measuring shifts in prices of finished products, declined unexpectedly by 0.6% in March following a 0.7% gain in the previous month. Analysts expected a 0.2% drop. Meanwhile Core PPI excluding food and energy products gained 0.2% following the same rise in February, in line with market predictions. Read More | View Original Article
DAILY TECHNICAL OUTLOOK ON GBP/USD : May 15, 2013
DAILY TECHNICAL OUTLOOK ON GBP/USD 15 May 2013 01:02GMT Trend Daily Chart Sideways Daily Indicators Turning down 21 HR EMA 1.5255 55 HR EMA 1.5307 Trend Hourly Chart Down Hourly Indicators Bullish convergences 13 HR RSI 38 14 HR DMI -ve Daily Analysis Resumption of decline Resistance 1.5385 - Mon's high 1.5331 - Y'day's high 1.5275 - Mon's low Support 1.5197 - Apr 23 low 1.5128 - 61.8% r of 1.4832-1.5607 1.5034 - Apr 4 low . GBP/USD - 1.5218... Read More | View Original Article
Morning Report - Aussie and Yen remain pressured
You can tell that the worm has clearly turned for the Aussie dollar because for the 4th or 5th day in a row it is one of the lead stories on the Wall Street Journals FX page. Today's headline says the budget knocked the AUD lower and while we don't agree that it was the budget that knocked the Aussie dollar below 0.99 overnight. Having said that though there was nothing in it that was or is going to support the Aussie. Read More | View Original Article
The U.S. dollar is trading higher against all of the major currencies this morning except for the Japanese Yen. Import prices was the only piece of U.S. data released today and the 0.5% decline was right in line with expectations and therefore barely elicited a reaction in the dollar. After hitting a high of 102.15 on Monday, the rally in USD/JPY has stalled. Given that the break above 100 was caused by the combination of higher U.S. yields, rising Japanese and U.S. Read More | View Original Article
EUR/USD: Trading the German Preliminary GDP
German Preliminary GDP is a key measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the euro. Indicator Background German GDP is released quarterly, and provides an excellent indication of the health and direction of the economy in the past quarter. Read More | View Original Article
April sales number took control...
Good day...and welcome to Tuesday morning. It looks like spring is finally here to stay in the Midwest, or should I say hopefully, after a fairly chilly start of the season. I overheard someone talking on the desk that it has been the third coldest spring on record so far, but I'll take that any day of the week instead of oppressive heat. The US dollar's grip on the currency market remained firm, but most currencies were in a tight range for a majority of the day. Read More | View Original Article
Today's Highlights Chinese economy slows US retail sales boost USD More talk of negative interest rates weakens Euro FX Market Overview This amendment to the Queen’s Speech bill in the House of Commons is an enigma for the Prime Minister. The bill would change nothing structural even if it could garner enough votes, which it probably won’t and whilst the Prime Minister says he wants a vote on European Union membership, this would be too early and too uncontrolled for his people. Read More | View Original Article
Heavy data calendar for Europe, quiet today in the UK
US retail sales came in stronger at +0.1% UK RICS house price balance for April rose to +1 European data expected to be generally supportive We got off to a quiet start to the week in the UK with very little data, though the latest RICS survey showed UK housing demand rising to the highest level since late 2009. Read More | View Original Article
Low Swedish inflation supports NOK/SEK
Swedish inflation came out much lower than we, consensus and not least the Riksbank had expected. Headline inflation came in at -0.2% m/m compared to +0.1% m/m expected. The underlying inflation measure CPIF came also in at -0.2% m/m – well below the consensus forecast at +0.1% m/m. We were surprised that clothing and package holidays surprised on the downside. Read More | View Original Article
Zloty hit by monetary easing expectations
Headlines Zloty hit by monetary easing expectations Hungarian inflation falls to all-time-low Yesterday the Polish zloty led CEE currencies‘ loses. Zloty eased on Monday by 0.5% after the relatively hawkish NBP member Adam Glapinski admitted, that the central bank could cut rates in June further to help Polish economy to recover. Today the publication of Hungarian CPI data did not surprise despite the fact that Hungarian inflation in April dipped to all-time-low. Read More | View Original Article
Industrial production for March is expected to rise +0.5% mom
The Big Picture Eurozone economy on the forefront. With the market already poised to buy dollars, a much better-than-expected US retail sales figure for April, boosted sentiment further and USD continued its gains. The retail sales figures, which included an upward revision to February and March, caused brokerage firms generally to upgrade their US GDP forecasts for Q2 by a 0.2 or 0.3 ppt. Read More | View Original Article
Daily Forex Fundamental Overview
Fundamental Analysis EUR “We are at a very critical stage at the moment and there are indicators that uncertainty is on the rise again” - Joerg Kraemer, chief economist at Commerzbank AG The Eurozone economy is most likely to shrink in the first three months of this year, suffering the longest recession since the single currency’s creation. Read More | View Original Article
Market Brief The markets traded with limited risk appetite overnight despite the better than expected price increase in Japanese corporate goods. The Nikkei 225 remained little changed (-0.06%), while Hang Seng and Shanghai’s Composite lost 0.21% and 1.31% respectively. USDJPY and JPY crosses were mixed. AUDJPY tested the 101.20 support for the second consecutive day, while USDJPY sold-off to 101.27 amid the machine orders declined 24.1, more than last month’s -21.5%. Read More | View Original Article
